Beese Fulmer Investment Management Inc. reduced its position in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 0.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 132,147 shares of the information services provider’s stock after selling 809 shares during the quarter. Alphabet comprises approximately 2.1% of Beese Fulmer Investment Management Inc.’s investment portfolio, making the stock its 9th largest position. Beese Fulmer Investment Management Inc.’s holdings in Alphabet were worth $25,166,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC boosted its position in Alphabet by 42.8% during the third quarter. Exchange Traded Concepts LLC now owns 6,511 shares of the information services provider’s stock worth $1,089,000 after acquiring an additional 1,953 shares during the last quarter. McGlone Suttner Wealth Management Inc. acquired a new position in shares of Alphabet during the 3rd quarter worth approximately $204,000. Armstrong Advisory Group Inc. grew its position in shares of Alphabet by 2.8% in the third quarter. Armstrong Advisory Group Inc. now owns 4,118 shares of the information services provider’s stock valued at $688,000 after purchasing an additional 113 shares in the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH grew its position in shares of Alphabet by 3.1% in the third quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 275,071 shares of the information services provider’s stock valued at $45,989,000 after purchasing an additional 8,270 shares in the last quarter. Finally, Thomasville National Bank lifted its position in Alphabet by 0.3% during the third quarter. Thomasville National Bank now owns 298,259 shares of the information services provider’s stock worth $49,866,000 after buying an additional 990 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.
Insider Transactions at Alphabet
In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $176.67, for a total transaction of $3,975,075.00. Following the completion of the transaction, the chief executive officer now directly owns 2,061,806 shares of the company’s stock, valued at approximately $364,259,266.02. The trade was a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Kavitark Ram Shriram sold 37,134 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the sale, the director now owns 282,832 shares in the company, valued at $52,329,576.64. The trade was a 11.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 89,529 shares of company stock valued at $16,600,078. 12.99% of the stock is currently owned by company insiders.
Alphabet Stock Performance
Alphabet (NASDAQ:GOOG – Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. As a group, sell-side analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.
Alphabet Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date is Monday, March 10th. Alphabet’s dividend payout ratio is currently 9.94%.
Wall Street Analyst Weigh In
Several analysts have issued reports on GOOG shares. Barclays upped their target price on Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Oppenheimer upped their price objective on shares of Alphabet from $215.00 to $225.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Phillip Securities raised shares of Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. Jefferies Financial Group increased their price target on shares of Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Seaport Res Ptn raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Six investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $209.13.
Check Out Our Latest Research Report on Alphabet
About Alphabet
Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
Read More
- Five stocks we like better than Alphabet
- Following Congress Stock Trades
- Merck: 4 No-Brainer Reasons to Buy This Dip
- Should You Add These Warren Buffett Stocks to Your Portfolio?
- Ackman Announces Major Stake in Uber: Should You Follow His Lead?
- Procter & Gamble (NYSE:PG) Pulls Back After Shaky Guidance
- Wells Fargo Upgraded These 3 Stocks—Here’s Why They Stand Out
Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOG – Free Report).
Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.